National Bank of Canada FI Increases Stock Holdings in Manhattan Associates, Inc. (NASDAQ:MANH)

National Bank of Canada FI grew its holdings in shares of Manhattan Associates, Inc. (NASDAQ:MANH) by 3,018.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 30,279 shares of the software maker’s stock after purchasing an additional 29,308 shares during the quarter. National Bank of Canada FI’s holdings in Manhattan Associates were worth $8,183,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in MANH. Twin Tree Management LP bought a new position in Manhattan Associates in the 4th quarter worth $25,000. Synergy Asset Management LLC bought a new position in shares of Manhattan Associates in the fourth quarter worth about $35,000. Whipplewood Advisors LLC purchased a new position in shares of Manhattan Associates during the 4th quarter valued at about $34,000. Bank of Jackson Hole Trust bought a new position in shares of Manhattan Associates during the 4th quarter valued at approximately $72,000. Finally, EverSource Wealth Advisors LLC increased its holdings in Manhattan Associates by 144.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 308 shares of the software maker’s stock worth $83,000 after acquiring an additional 182 shares in the last quarter. Institutional investors own 98.45% of the company’s stock.

Manhattan Associates Price Performance

NASDAQ MANH opened at $152.05 on Friday. Manhattan Associates, Inc. has a 1-year low of $150.20 and a 1-year high of $312.60. The business has a 50 day simple moving average of $184.74 and a two-hundred day simple moving average of $248.19. The stock has a market capitalization of $9.29 billion, a PE ratio of 43.32 and a beta of 1.47.

Insider Activity at Manhattan Associates

In other Manhattan Associates news, CFO Dennis B. Story sold 2,788 shares of Manhattan Associates stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $170.83, for a total value of $476,274.04. Following the completion of the transaction, the chief financial officer now directly owns 101,263 shares of the company’s stock, valued at $17,298,758.29. This trade represents a 2.68 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.72% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on MANH shares. Piper Sandler dropped their price target on shares of Manhattan Associates from $268.00 to $200.00 and set an “overweight” rating for the company in a research report on Friday, March 14th. StockNews.com downgraded shares of Manhattan Associates from a “buy” rating to a “hold” rating in a report on Monday, January 13th. William Blair upgraded Manhattan Associates from a “market perform” rating to an “outperform” rating in a research note on Thursday, February 13th. Truist Financial lowered their price objective on Manhattan Associates from $310.00 to $285.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Finally, DA Davidson raised Manhattan Associates to a “strong-buy” rating in a research note on Monday, March 24th. Three investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $243.78.

Manhattan Associates Company Profile

Manhattan Associates, Inc develops, sells, deploys, services, and maintains software solutions to manage supply chains, inventory, and omni-channel operations. It offers Warehouse Management Solution for managing goods and information across the distribution centers; Manhattan Active Warehouse Management, a cloud native and version less application for the associate; and Transportation Management Solution for helping shippers navigate their way through the demands and meet customer service expectations at the lowest possible freight costs; Manhattan SCALE, a portfolio of logistics execution solution; and Manhattan Active Omni, which offers order management, store inventory and fulfillment, POS, and customer engagement tools for enterprises and stores.